• 8 hours From Frenzy To Flop, The Death Of This Year’s Most Hyped IPO
  • 13 hours Are Smart TVs Spying On Us?
  • 15 hours Is Fossil Fuel Divestment A Waste Of Time?
  • 1 day A Russian Billionaire’s Space Quest To Save Humanity
  • 1 day Markets Take Breather As Consolidation Continues
  • 2 days Economic Woes Weigh On Copper Prices
  • 2 days World's Largest IPO At Risk Following Drone Strikes
  • 2 days Gold Is Beating Buffett’s Berkshire Hathaway
  • 2 days What’s Behind The Silver Sell-Off?
  • 3 days The Retail Apocalypse Is Accelerating
  • 3 days The Top Tech Stocks Of The Year
  • 3 days America’s Workforce Elderly Workforce To Double By 2028
  • 4 days Toyota Tests Solar-Powered Prius
  • 4 days Why The Gold Rally Flatlined
  • 5 days The Uranium Sector Can’t Catch A Break
  • 5 days Upcoming Fed Meeting Has Investors On Edge
  • 6 days Global Gold Sector Outlines Responsible Mining Principles
  • 6 days China’s Giant Vampire Fund Loses $120B
  • 7 days McDonalds To Roll Out Robot Drive-Thru Clerks
  • 7 days Savvy Investors Are Betting Big On This Little Data Company
Billionaires Are Pushing Art To New Limits

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to…

Contact Author

  1. Home
  2. Markets
  3. Other

AUDUSD Elliott Wave Analysis Mature Cycle

Revised short term AUDUSD Elliott Wave view suggests the rally from 5/9 low is unfolding as a leading diagonal Elliott Wave structure. Up from 5/9 (0.7325) low, Minute wave ((i)) ended at 0.7517, Minute wave ((ii)) ended at 0.7368, and Minute wave ((iii)) ended at 0.7566. Minute wave ((iv)) pullback is currently in progress to correct cycle from 6/1 low in 3, 7, or 11 swing before pair resumes higher again.

Pair has currently reached 100% from 5/9 low thus cycle from 5/9 low is mature and may end soon. However, pair still has scope to extend one more leg higher in Minute wave ((v)) as far as pivot at 6/1 low (0.7368) stays intact before ending cycle from 5/9 low as a leading diagonal. As cycle from 5/9 low has reached 100%, it’s not a good idea to chase strength at this stage. We don’t like selling the pair either as higher degree trend is bullish and expect pair to correct cycle from 5/9 low in 3, 7, or 11 swing after it completes one more leg higher in Minute wave ((v)).

AUDUSD 1 Hour Elliott Wave Chart

 

(Click to enlarge)

(Click to enlarge)

By Elliot Wave Forecast

Back to homepage

Leave a comment

Leave a comment